Yahoo Finance Palladium’s Kymera in Talks With Lenders to Refinance, Buy Firm
(Bloomberg) -- Materials company Kymera International is in conversations with lenders, including private credit firms, to refinance its debt and pay for a potential acquisition, according to people with knowledge of the matter.
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Goldman Sachs Group Inc. and Piper Sandler & Co. have been hired to put together a roughly $790 million debt package, said one of the people, who asked not to be identified as the details are private. Kymera’s private equity owner, Palladium Equity Partners, is expected to inject additional equity into the company, some of the people added.
Kymera would use the new capital to pay about $450 million of outstanding debt, the people said, as well as a possible acquisition.
Representatives for Palladium and Piper declined to comment, while spokespeople for Kymera and Goldman did not immediately respond to requests.
Numerous companies have been sounding out private credit lenders for debt refinancings amid fierce competition between Wall Street and private funds seeking opportunities to deploy their dry powder.
Meanwhile, Kymera has made several acquisitions in recent months. They include Metallisation Ltd. — a technology firm in the thermal spray industry — and a majority stake in Royal Metal Powders, a manufacturer of water and air atomized powders.
Palladium purchased Kymera from Platinum Equity in 2018, a deal that involved financing in the leveraged loan market.
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